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Equities broke up through the declining cycle trend line on Wednesday declaring a new daily cycle.
The daily cycle low was actually set on April 10, with a swing low two days later.
The trend line breaks confirms a new daily cycle with the S&P up 1.36 % today.
And Ben said nothing to cause the dollar to rally…
Wednesday was day 15 for the dollar.
It was a possibility that Bernanke could have said something to cause the dollar to bottom early.
That did not appear to happen.
So the dollar made a lower low and is now threatening to break below its intermediate cycle trend line.
Such a break would surely boost equities and miners.
While equities where up nicely today, miners did better.
The Miners were up 2.76% today forming a swing off the low set on Monday.
With any strength on Thursday, they will form a clear trend line break.
Below is a chart identifying the daily cycles over the past year for the HUI.
The timing band for the HUI to print a low is between 14 – 19 days.
Monday was day 16 making today day 2.
Now the miners have a wide timing band to print a weekly cycle low.
They print 73% of their weekly lows between weeks 14 & 20.
It does appear that a low was been printed for the current weekly cycle
The earliest to confirm this would be by printing a swing low next week.
Getting back to the dollar, if the dollar breaks below the intermediate cycle trend line, then I think that we will have a real gold rush …
Cycle Trading 
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